FOSUF - Fosun Tourism's Post-Covid Holiday Fizzles

2024-04-23 09:40:00 ET

Summary

• Fosun Tourism said business volume at its Atlantis Sanya mega-resort and Club Med chain rose 4.5% and 15.2%, respectively, in the first quarter.
• The company’s shares are trading near an all-time low, following reports earlier this year that its two major assets may be up for sale to raise cash for its debt-strapped parent.
• This year’s first quarter is significant in China, since it marks the first time that the latest data and year-ago comparisons are both in the country’s post-Covid period.

There’s not much fun these days at Fosun Tourism Group (1992.HK), one of China’s leading tourism companies and owner of the Club Med resort chain....

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